Financial news on March 13, 2007

Business and Financial news

The $14.4 billion cash deal for Organon BioSciences, a maker of birth-control pills, took investors by surprise. Read more..

By JULIA WERDIGIER - The New York Times

Big Money Still Learning to Lobby

The hedge fund industry seems resigned to no longer be a wallflower in Washington as it joins the lobbying dance with Congress. Read more..

By JENNY ANDERSON - The New York Times

Bristol-Myers Tightens Process for Setting C.E.O. Pay

The company accepted a Harvard professor’s proposal that the chief executive’s pay be subject to approval by three-quarters of the independent directors. Read more..

By STEPHANIE SAUL - The New York Times

Buyout Firm Is Acquiring Dollar General Retail Chain

Kohlberg Kravis Roberts, the giant buyout firm, said it would pay $6.9 billion to take the discount retailer Dollar General private. Read more..

By JEREMY W. PETERS - The New York Times

Canada: Bidding for Mining Concern

Oxbow Carbon and Minerals Holdings raised its offer for the Great Lakes Carbon Income Fund to about 657 million Canadian dollars ($562 million), topping a higher bid from Rain Commodities and extending a bidding war for Great Lakes, a producer of ... Read more..

By BLOOMBERG NEWS - The New York Times

Canada: Hotel Operator Posts a Profit

Four Seasons Hotels, the world’s largest operator of luxury hotels, reported a fourth-quarter profit on higher room revenue. Four Seasons, based in Toronto, said profit was $16.9 million, or 44 cents a share, in contrast to a loss of $37.8 million... Read more..

By BLOOMBERG NEWS - The New York Times

Ford Is Selling Aston Martin

As part of its recovery plan, Ford will sell the maker of upscale British sports cars to a group of investors that includes the racing mogul David Richards. Read more..